Dive Brief:
- RetailNext Wednesday announced that it has secured $125 million in additional funding, bringing total funding to $184 million.
- The company offers in-store retail analytics to more than 160 customers.
- RetailNext said it plans to use the new funding to expand growth in new overseas markets an extend the capabilities of its Software-as-a-Service platform.
Dive Insight:
"Currently, about 90% of RetailNext’s revenue is domestic, but our global deployments are growing to be a larger part of the overall business every single month," RetailNext CEO Alexei Agrachev told Retail Dive. "Plans for this current round of funding include a continuation of our rapid expansion in Asia, Europe and other emerging markets, and I’m personally excited about the opportunity that exists in those regions. In two or three years, 60-70 percent of RetailNext’s revenues should come from international business. Plus, with partnerships like those we have with Nielsen, American Express, AT&T, Tyco, Cisco and others, we will grow our business in all segments of retail, including malls and venues, convenience stores, grocery and mass.”